PhaseBio Pharmaceuticals Inc. plans to start a bankruptcy auction sale of its antibody drug bentracimab with Italy-based Chiesi Farmaceutici SpA’s offer that could be as high as $100 million.
Chiesi’s stalking horse bid for the drug and its development program includes $40 million in cash upfront, followed by $30 million if the US Food and Drug Administration approves an accelerated approval process, and $30 million more upon full FDA approval, according to a PhaseBio filing Friday.
When PhaseBio filed for Chapter 11 in October, the Malvern, Penn.-based company said it had lined up a potential buyer for the assets but ...
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